Rockville, MD, July 18, 2024 (GLOBE NEWSWIRE) -- Fact.MR, in its new research report, states that revenue from the global allergy shot market is estimated to reach US$ 1.84 billion in 2024 and advance further at a CAGR of 6.1% from 2024 to 2034.
With allergies becoming more prevalent due to ever-rising urbanization and environmental changes, more people are turning to allergy shots, which are turning out to be long-term treatments for relief. These injections offer personalized therapy targeting multiple allergies simultaneously and may even prevent new allergies from developing. They are favored by patients and healthcare providers alike for reducing reliance on daily medications and improving overall quality of life.
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The effectiveness of allergy shots in managing allergic asthma and potentially preventing its onset, along with their support for pet ownership and occupational health, has bolstered their appeal. As awareness grows regarding their long-term benefits, an increasing number of people are opting for allergy immunotherapy as a proactive approach to allergy management. The allergy injection market is poised for continued growth, driven by a global shift towards preventive healthcare and personalized medicine.
Key Takeaways from Market Study
- The global allergy shot market is projected to generate revenue of US$ 3.34 billion by the end of 2034.
- The market in North America is projected to hold a share of 40.3% by 2034-end.
- The East Asia market is forecasted to reach a valuation of US$ 776 million by 2034.
- By 2034, the market in Canada is evaluated to reach a size of US$ 147 million.
- Based on product type, sales of SLIT tablets are estimated to reach US$ 293.3 million in 2024.
- The retail sales segment is poised to occupy 42.2% market share in 2024.
“Allergy shots are effective in managing allergic asthma and may even prevent its onset in certain cases. Increasing awareness of the long-term benefits of allergy immunotherapy has driven more people to choose this approach to managing allergies,” says a Fact.MR analyst.
Leading Players Driving Innovation in Allergy Shots Market
Some of the prominent manufacturers of Circassia; Merck; Allergy Therapeutics; ALK-Abello; Letipharma; HollisterStier Allergy; Aimmune Therapeutics; DBV Technologies; Stallergenes Greer; HAL Allergy Group; Biomay AG. Other Prominent Players.
Advancements in Molecular Diagnostics Enabling Customized Therapy Formulations
Researchers are exploring innovative delivery methods like sublingual and oral immunotherapy as needle-free alternatives to traditional injections. These options aim to enhance accessibility and patient compliance. Personalized medicine is revolutionizing allergy treatments with advancements in molecular diagnostics, enabling precise allergen detection and tailored therapy formulations. This approach minimizes adverse effects while improving treatment efficacy.
Biotechnology firms are developing adjuvant vaccines to enhance immune responses, potentially reducing treatment duration and enhancing outcomes. Additionally, the development of recombinant allergens holds promise for safer and more standardized immunotherapy solutions. Integration of digital health technologies such as smart autoinjectors and smartphone apps for symptom tracking is enhancing treatment adherence and monitoring processes.
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Allergy Shot Industry News-
In October 2023, Itulatek's phase 3 experiment for the treatment of allergic rhino-conjunctivitis brought on by tree pollen was completed, according to ALK.
In January 2023, HollisterStier Allergy introduced Ultrafiltered Dog, their newest product innovation, to the allergy market. Patients who are sensitive to dogs respond well to the product's diagnosis and therapy.
In October 2022, Aimmune Therapeutics and Allergy Partners, a specialized allergy practice group, partnered to provide Palforzia, an oral immunotherapy, to patients directly.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the allergy shot market for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product (SLIT tablets, oral, injections), immunotherapy (sublingual immunotherapy, subcutaneous immunotherapy), indication (allergic rhinitis, allergic asthma, food allergy, atopic dermatitis), allergen (pollen, house dust mites, mold, animal dander, bee venom, cockroaches/insects), and distribution channel (institutional sales, retail sales), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).
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